Mexican Peso hit by negative risk sentiment
The Mexican Peso is losing ground due to a broad dip in market sentiment. Equities are down by 0.66% overnight and Meta’s stock tumbled 15% in after-hours trading on Wednesday despite better-than-expected earnings. The stock’s decline was put down to the company’s Q2 profit guidance, which came in at the lower end of projections, according to analysts at Deutsche Bank.
The Peso may also have been impacted by a notch-rise in geopolitical tensions, after Israel said they had struck around 40 Hezbollah targets in Lebanon.
“Currently, investors don’t appear as concerned as they were last week after Iran’s strikes…However, there are still nerves about the prospect of a further escalation, and the Israeli shekel (-0.26% against the US Dollar) lost ground after the headlines came through,” the Deutsche team wrote in a note on Thursday morning.
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